Exporters Seek Incentives for Non-oil Sector

THE Executive Secretary, Organised Private Sector Exporters Association (OPEXA), Jayeola Olarewaju, has urged the Federal Government of Nigeria to save the economy through incentives  that will quicken  the non-oil sectors.

He said it was imperative for the government to intervene to save the economy from collapse caused by the coronavirus pandemic.

Jayeola said the government all over the world has come up with relief packages to balance the lives and livelihoods of it citizen and its businesses.

However, he said it does not have to be grandiose plan. It should be simple practical things that can help the economy re-bounce, he added.

According to him, OPEXA is pleading with the government to sincerely implement these extant policies and make good its commitments.

He added that OPEXA is not asking for anything new or unreasonable. We only demand for the issuance of the outstanding promissory notes approved since December 2018, disbursement of export credit certificates for approval budget till 2020 and provision of adequate budget and finally half year meetings with the inter-ministerial committee on Export Expansion Grant (EEG) to access the impact of the pandemic.

The pandemic had been having a devastating effect on the economy this may even be an optimistic prediction in view of the devastating effect of COVID-19 on the economies.

India is Nigeria’s No.1 buyer of crude oil so far), EU and North America. This will have a lasting impact on Nigeria’s export earnings in 2020, although the current administration had stepped up the diversification of the country’s economy, it needs to be emphasized that it is the only way out.

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